Overview
Hims & Hers Health has entered into an agreement to acquire Eucalyptus, a digital health company with operations across several international markets.
The deal will support Hims & Hers’ expansion into Australia and Japan while strengthening its presence in the UK, Germany, and Canada.
The acquisition combines Eucalyptus’ local market expertise and consumer health brands with Hims & Hers’ digital healthcare platform and is expected to create a broader international consumer health business.
The News
Hims & Hers Health has agreed to acquire Eucalyptus in a transaction valued at up to $1.15 billion, subject to customary adjustments and closing conditions. Approximately $240 million will be paid in cash at closing, with the remaining consideration consisting of deferred payments and earnouts linked to financial targets through early 2029. The transaction is expected to close in mid-2026, subject to regulatory approvals.
Eucalyptus operates brands including Juniper and Pilot and has served more than 775,000 customers. The company has an annual revenue run-rate above $450 million and has published more than 20 peer-reviewed studies. Following the acquisition, Eucalyptus CEO Tim Doyle will become SVP of International at Hims & Hers.
The deal will expand Hims & Hers’ access to Australia and Japan and deepen its presence in the UK, Germany, and Canada. Eucalyptus’ brands will transition into the Hims & Hers portfolio over time.
Industry Perspective
Digital health companies are increasingly expanding internationally through acquisitions that combine scalable technology with local clinical, regulatory, and market expertise. Regional partnerships and infrastructure can help companies enter new markets while adapting care delivery to local needs.
Strategic Impact
The acquisition is expected to strengthen Hims & Hers’ global expansion strategy and diversify its international platform across online pharmacy, telehealth, and more personalised healthcare services. The company expects the deal to support category leadership in Australia and strengthen its position in the UK and Germany, while creating new opportunities to work with biopharma, diagnostics, and biotechnology companies seeking scaled digital distribution.
Source: Hims & Hers
